President Muhammadu Buhari has signed into law an extradition bill to prevent persons who have submitted to Nigeria in-line with the treaty, which protects people from double judicial trials. Senior Special Assistant to the President on National Assembly Matters (Senate), Senator Ita Enang, who disclosed this yesterday, said President Buhari also signed into law the […]
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The Edo State House of Assembly on Monday in Benin City, passed into law, a ₦10,874,000,000 Supplementary Budget for year 2018 fiscal year, and not ‘₦160 extra budget’ billion as erroneously reported by some of Nigeria’s newspapers on Tuesday November 6, 2018. With the ₦10,874,000,000 supplementary budget passed into law by the Edo State Legislature, […]
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The Debt Management Office (DMO) has raised ₦410 billion from the domestic capital market as public borrowings to fund the 2018 budget. The federal government had indicated that ₦1.6 trillion would be borrowed to finance about ₦1.95 trillion deficit contained in the budget. Disclosing this at a press briefing in Abuja yesterday, the Director-General of DMO, […]
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The Debt Management Office (DMO) has raised ₦410 billion from the domestic capital market to fund the 2018 budget. The Director -General of the DMO, Ms, Patience Oniha, disclosed this at a press briefing in Abuja , this morning. She also revealed that the nation’s public debt stood at ₦22.37 trillion as at end of […]
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Financial experts on Thursday stressed the need for quick implementation of the 2018 budget and listing of new companies on the Nigerian Stock Exchange (NSE) to tackle the exodus of foreign investors. They said in Lagos that quick budget implementation and listing of more multinationals on the stock exchange would boost its liquidity and enhance […]
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FSDH Merchant Bank has projected that the federal government will borrow up to ₦2 trillion to finance its budget in 2018, describing the nation’s debt service-to-revenue ratio, which rose to 79 percent in first quarter 2018, Q1’18, as very high and unsustainable. The bank also warned that the country cannot afford another level of naira […]
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Niger Delta militants, yesterday, declared all National Assembly members from the region as “enemies of development,” threatening to deal with them and blow up their properties in the region for irresponsibly consenting to the cutback of funds to key infrastructural projects for the region in the 2018 budget signed by President Muhammadu Buhari. The militants, […]
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As the debate between the executive and the legislature over which arm of the Federal Government was responsible for the late passage of the 2018 budget continues to simmer, findings by the civic organisation, BudgIT, have revealed that only 15 out of the country’s 36 states have published their budgets for this year. In a […]
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BudgIT, a civic tech transparency organization has berated state governments for not disclosing details of their 2018 budget. The group also accused the governments of Lagos state and Kwara state of been notoriously opaque in budget disclosures. In a statement titled, “Opaque Nigerian State Budgets”, signed by the Project Manager, BudgIT, Mr. Abayomi Akinbo, the […]
Read More The Minister of Budget and National Planning, Udo Udoma, has explained how the ₦9.1 trillion revenue to finance the 2018 budget will be raised by the Federal Government. Speaking during the public presentation of the 2018 budget on Thursday in Abuja, Udoma expressed optimism that the government would be able to generate enough revenue to […]
Read More Finance and economic experts have expressed divergent views on the capacity of the Federal Government to effectively implement the 2018 budget signed into law on Wednesday by President Muhammadu Buhari. The budget, which was passed last month by the National Assembly, was raised by over ₦508 billion, bringing it to ₦9.12 trillion as against the […]
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Lawmakers said yesterday that in spite of President Muhammadu Buhari’s complaints on the adjustments to the budget, the executive is bound “to implement it to the letter”, having become an Act. Besides, they said they were not worried about the President’s complaints while they wait for the supplementary budget he plans to present. They also […]
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